Numerous banks vie for customers with enticing savings accounts featuring attractive interest rates and streamlined documentation processes. While this abundance of options offers flexibility, it can also pose a challenge in selecting the most rewarding saving accountUAE.
List of Top 10 SavingAccountUAE -May 2024
Which bank is best for savings accounts in the UAE you ask? To simplify your decision-making process, here's a curated list of some of the best savings accounts in the UAE to consider.
| Account Name | Minimum Balance in Account | Profit Rate |
|---|---|---|
| ADIB Smart Banking Account |
| 0.7227% On every dirham in the account |
| National Bank of Fujairah Max Saver Account | AED 0 | Up to 2.50% p.a |
| CBI Saver Account | AED 3000 | Up to 3.52% |
| Emirates NBD Tiered Savings Account | AED 10000 | Up to 0.50% |
| RAKBank Savings Account | AED 0 | 0.25% |
| Standard Chartered XtraSaver Account | AED 3000 | 2% |
| Mashreq Easy Saver Account | AED 0 | Up to 2.40% p.a |
| Emirates NBD Savings Account | AED 5000 | 0.20% |
| HSBC Term Deposit Account | AED 10000 | Up to 2.50% |
| FAB’s iSave Account | AED 0 | Up to 5.25% p.a |
1. ADIB Smart Banking Account
ADIB presents a diverse array of account options, among which the ADIB Smart Banking account stands out for its exceptional benefits and zero balance requirement in the UAE. Eligible for all UAE residents aged 18 and above, this savings account offers a plethora of advantages to its holders.
Features & Benefits of ADIB Smart Saving Banking Account
- Get a chance to win a bonus on your salary
- Earn profit on your savings
- Enjoy discounts and deals on smart deals app
- Transfer money internationally & domestically once every month for free
EligibilityCriteria & Document Requirments for ADIB Smart Banking Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| ADIB Smart Banking Account |
|
|
Click here to Open the ADIB Smart Saving Banking Account
2. National Bank of Fujairah Max Saver Account
NBF is another one of the best savings accounts offered in the UAE banking landscape. Its Max Saver account is tailored to maximize benefits from savings. With attractive profit rates, NBF ensures customers gain the most from their deposited funds.
Features & Benefits ofNational Bank of Fujairah Max Saver Account
- Get interest paid out monthly, calculated on the daily balance
- Get up to two NBF saver accounts
- Attractive interest rates of up to 2.50%
- Enjoy monthly withdrawal flexibility without affecting the interest earned
- Available in USD and AED
EligibilityCriteria & Document Requirments for National Bank of Fujairah Max Saver Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| National Bank of Fujairah Max Saver Account |
|
|
Click here to Open NBF Max Saver Account
3. CBI Saver Account
CBI's Saver account is one of the best saving accounts in the UAE that prioritizes convenience by offering unlimited withdrawals alongside regular interest credits, calculated based on daily balances and activities. Account accessibility is seamless from any location.
Features & Benefits of CBI Saver Account
- Get interest paid out monthly
- Available to joint applicants and to children
- Available in AED
- Get an international debit card for free
EligibilityCriteria & Document Requirments for CBI Saver Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| CBI Saver Account |
|
|
Click here to Open CBI Saver Account
4. Emirates NBD Tiered Savings Account
This savings account type by Emirates NBD Saving Accountcomes with competitive interest rates to help you achieve your saving goals in minimal time.
Features & Benefits of Emirates NBD Tiered Savings Account
- No premature withdrawal
- Available in SAR, USD, and AED
- Partial withdrawals possible
- Get interest on daily closing balances
- Applicable for non-salaried, salaried, and self-employed individuals
EligibilityCriteria & Document Requirments for Emirates NBD Tiered Savings Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| Emirates NBD Tiered Savings Account |
|
|
5. RAKBank Savings Account
RAKBank's Savings account in UAE, a zero balance option, boasts a range of perks and minimal fees, catering to savers seeking value and convenience.
Features & Benefits of RAKBank Savings Account
- Interest is calculated on daily balances & paid bi-annually
- AED, GBP, EUR, and more currencies available
- Transfer money conveniently with RAKMoney Transfer
- No minimum balance requirement for the first 3 months
- Quick account setup with next-gen digital banking
Eligibility Criteria & Document Requirments for RAKBank Savings Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| RAKBank Savings Account |
|
|
Click here to Open RAKBank Savings Account
6. Standard Chartered XtraSaver Account
Standard Chartered's XtraSaver Account is also one of the best savings accounts in the UAE that offers not only a competitive interest rate but also seamless account access for users' ease.
Features & Benefits of Standard Chartered XtraSaver Account
- Get a contactless debit card for free
- Available in AED and USD
- Access your account via phone/online banking & mobile app
- Pay your bills via online banking
- Get e-statements and SMS alerts every time there’s an activity on your account
Eligibility Criteria & Document Requirments for Standard Chartered XtraSaver Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| Standard Chartered XtraSaver Account |
|
|
Click here to Open Standard Chartered XtraSaver Account
7. Emirates NBD Savings Account
Emirates NBD Standard Savings account is synonymous with high-interest returns and exclusive benefits, exclusively in UAE currency, making it a premier choice among savers in the region.
Features & Benefits of Emirates NBD Savings Account
- Open account in multiple currencies
- Free 10 teller transactions every month
- Get half-yearly statements
- Available for non-salaried, salaried, and self-employed individuals
EligibilityCriteria & Document Requirments for Emirates NBD Savings Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| Emirates NBD Savings Account |
|
|
Click here to Open Emirates NBD Savings Account
8. HSBC Term Deposit Account
With interest being calculated daily, the HSBC term deposit account is one of the best saving account in the UAE. It comes with enhanced flexibility in terms of tenure and the possibility to reinvest both interest and principal amounts on maturity, making it a top choice among customers.
Features & Benefits of HSBC Term Deposit Account
- Available in GBP, USD, and AED
- 24x7 free online, phone, & mobile banking
- Free text message alerts
- Choose to reinvest both interest and principal on maturity
- Choose a tenure between 1 to 36 months
EligibilityCriteria & Document Requirments for HSBC Term Deposit Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| HSBC Term Deposit Account |
|
|
Click here to Open HSBC Term Deposit Account
9. FABiSave Account
FABiSave Account, available for online opening, offers attractive benefits and profit rates, ensuring a rewarding banking experience for customers. It definitely makes it to our best savings account in the UAE list.
Features & Benefits of FABiSave Account
- Open an account instantly via online banking or FAB mobile app
- Available in AED
- Unlimited withdrawals
EligibilityCriteria & Document Requirments for FABiSave Account
| Saving Account Name | Eligibility Criteria | Required Documents |
|---|---|---|
| FAB iSave Account |
|
|
Click here to Open FAB iSave Account
10. Emirates Islamic Bank Kunooz Savings Account
Emirates Islamic Kunooz Saving account is a best savings account for winning exclusive cash prizes and a monthly prize of a Mercedez EQS.
Features & Benefits of Emirates Islamic Bank Kunooz Saving in UAE
- Customers can earn a weekly cash prize of AED 10,000.
- The bank rewards its customers with a chance to win a quarterly grand cash prize of AED 1 million.
- A monthly prize of Mercedes EQS is available.
Eligibility Criteria & Document Required for Opening EIB Kunooz Savings Account in UAE
| Bank Account | Eligibility Criteria | Document Required |
|---|---|---|
| EIB Kunooz Savings Account |
| NA |
Click here to Open EIB Kunooz Savings Account
11. First Abu Dhabi Bank Elite Savings Account
FAB Elite account is considered one of the best savings accounts for those residing in the UAE. Those who hold an account can opt for a range of available currencies. Individuals with the AED currency can earn competitive interest rates on their savings.
Features & Benefits of FAB Elite Savings Account in UAE
- Users are not required to maintain a minimum monthly balance.
- The bank account is available in multiple currencies.
- Account holders can enjoy tiered interest rates.
- The first international remittance is free every month for those who have an account in AED currency.
- Customers can avail of free cash withdrawals from any ATM across the UAE.
- Get 4 free cash withdrawals from any ATM outside the UAE every month.
- World Mastercard debit card provided upon opening the account.
Eligibility Criteria & Document Required for Opening FAB Elite Savings Account in UAE
| Bank Account | Eligibility Criteria | Document Required |
|---|---|---|
| FAB Elite Savings Account | Elite Eligibility – AED 500,000 Total Relationship Balance (TRB), AED 2,500,000 Mortgage, or AED 50,000 AED Salary Transfer |
|
Click here to Open FAB Elite Savings Account
12. Al Hilal Savings Account
The Al Hilal account is not only a best savings account in the UAE for securing money but allow customers to win huge monthly cash prizes.
Features & Benefits of Al Hilal Saving in UAE
- This is a fully Shariah-compliant bank account.
- Individuals can win up to AED 1 Million prizes every month.
- The bank rewards its customers with twenty AED 1,000 prizes every month.
- Thumb impression recognition facility is available with this savings account.
- The bank does not charge any ‘fall below’ fee.
- This savings account is available in AED, EUR, & CAD, USD, and GBP.
- Customers can opt for personalised account numbers.
- A personalised free Visa Debit card is offered to customers upon opening the account.
- Customers have access to free monthly e-statements.
- Free internet, mobile, SMS, and 24/7 automated banking facilities are accessible to bank account holders.
Eligibility Criteria & Document Required for Opening Al Hilal Savings Account in UAE
| Bank Account | Eligibility Criteria | Document Required |
|---|---|---|
| Al Hilal Savings Account |
|
|
Click here to Open Al Hilal Savings Account
13. Liv. Savings Account
With this best savings account in the UAE, individuals can earn attractive interest rates on their savings. Moreover, this account is available for teenagers and kids to help them learn money management at early age.
Features & Benefits of Liv. Saving in UAE
- The account opening process is swift and completely digital.
- Instant top-up facility provided
- With the Liv. credit card, account holders can earn up to 15% cashback on their spending.
- Instant direct remittance facility to multiple countries is available.
- It is a customisable goal account with attractive returns of 1.5%.
Eligibility Criteria & Document Required for Opening Liv. Savings Account in UAE
| Bank Account | Eligibility Criteria | Document Required |
|---|---|---|
| Liv. Savings Account | The minimum monthly salary required to open the bank account is AED 10,000. | NA |
Click here to Open Liv. Saving Account
How toChoose Best Bank SavingAccountUAE?
- Pick a Type of Savings Account: Start by identifying your specific needs and preferences. Do you prefer a basic savings account, a high-yield account, or one with additional features like overdraft protection or rewards? Choose the type of account that aligns with your financial goals and lifestyle.
- Determine if you Want an Online-Only Account: Consider whether you prefer the convenience of managing your savings online. This brings you a chance of better savings with higher interest rates and lower fees.
- Evaluate the Account Fees: Take a close look at the fees associated with the savings account. These may include monthly maintenance fees, ATM fees, overdraft fees, and minimum balance requirements. Opt for an account with minimal fees to maximize your savings.
- Consider Annual Percentage Yield (APY): The APY represents the interest rate you'll earn on your savings over a year, including compound interest. Choose an account with a competitive APY to make your money work harder for you.
Frequently Asked Questions
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